RSK (Rootstock) (SBTC)

Overview

RSK is the first general purpose smart contract platform secured by the Bitcoin Network.

Project stage

Beta version

Detailed description

RSK is the first general purpose smart contract platform secured by the Bitcoin Network.

RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK goal is to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability.

The project has been conceived with the following principles in mind:

Bitcoin Friendly

Security

Scalability

Instant Payments

Problem

Since the creation of Bitcoin there has been a race towards lower intervals for PoW block-chain based cryptocurrencies. First there was Bitcoin with a 10 minute interval, then was LiteCoin using a 2.5 interval, then was DogeCoin with 1 minute, QuarkCoin with 30 seconds, and Ethereum with 12 seconds. Every new cryptocurrency lowers it a little bit, but very few designers actually know what the implications of doing so are.

To understand how the block interval impacts the stability and capability of the cryptocurrency network, several factors must be taken into account. First of all, the most important factor that affects the viability of short confirmation intervals is the number of stale blocks generated. Two other factors mainly affect the stale block rate: the block propagation protocol and the block propagation time from the top miners to the top miners.

Solution

RSK represents the culmination of 4 years of blockchain technology improvements and it will allow the cryptocurrency ecosystem to make use of the best features of programmable money and payments while increasing bitcoin (the currency) value.

It will allow developers around the globe to create personal and corporate decentralized solutions that run in the most secure network worldwide with low transaction cost that fit an ample range of needs.

It will allow Bitcoin miners to participate in the Smart Contract market adding significant value to the mining industry and ensuring its long term sustainability. It will contribute to the creation of a broader base of miners strengthening Bitcoin network's security.

It will enable the development of a decentralized, instant and inexpensive financial system that will create inclusion and opportunities for three thousand million people who remain unbanked and financially impaired in our world.

Additional links

Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :SBTC

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Bitcoin ()

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :NA

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :Yes

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist N/A

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No

Advisors

Roadmap

No information

Activity

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